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Price of a gallon of gasoline

The use of gasoline is one of the major source of energy In the entire world commonly for the Americans considering the fact that almost 40 million individuals in america use it for their vehicles on their daily basis. Gasoline is cheaper and has high density of energy compared to other sources even batteries. currently the price of regular gasoline per gallon is $2.623. the price of gasoline keeps on elevating, this is because of increase on demand for the product. Today a high number of people own vehicles that need energy therefore increasing demand for the products.

The inflation rate of gasoline happens to be 0.1% percent by February 2019. From oil we get gasoline, as population increases so does the demand for gasoline since more people will be using vehicles and therefore there will be an increase in inflation rates for the gasoline come 2070.  The oil consumption rate is estimated to be high compared to oil that would be discovered within that period. The average inflation rate of gasoline per gallon is expected to be approximately 5-10% percent inflation rate by 2070.

 

 

 

 

 

References

https://www.thebalance.com/current-u-s-inflation-rate-statistics-and-news-3306139

https://www.weird.com/2015/02/infinite-amount-oil-enough

https://www.eia.gov/petroleum/gasdiesel/

Price of a gallon of gasoline

The use of gasoline is one of the major source of energy In the entire world commonly for the Americans considering the fact that almost 40 million individuals in america use it for their vehicles on their daily basis. Gasoline is cheaper and has high density of energy compared to other sources even batteries. currently the price of regular gasoline per gallon is $2.623. the price of gasoline keeps on elevating, this is because of increase on demand for the product. Today a high number of people own vehicles that need energy therefore increasing demand for the products.

The inflation rate of gasoline happens to be 0.1% percent by February 2019. From oil we get gasoline, as population increases so does the demand for gasoline since more people will be using vehicles and therefore there will be an increase in inflation rates for the gasoline come 2070.  The oil consumption rate is estimated to be high compared to oil that would be discovered within that period. The average inflation rate of gasoline per gallon is expected to be approximately 5-10% percent inflation rate by 2070.

 

 

 

 

 

References

https://www.thebalance.com/current-u-s-inflation-rate-statistics-and-news-3306139

https://www.weird.com/2015/02/infinite-amount-oil-enough

https://www.eia.gov/petroleum/gasdiesel/